(TAN): India-based airline Vistara said it had achieved several key milestones in the year 2022. For the first time since inception, the airline reported a net profit (excluding unrealised foreign currency loss and non-operating income) for the quarter ended December 2022, the airline said in a news release.
The airline crossed the USD 1 billion revenue mark and remained EBITDA positive in the current fiscal year and reported break even for the first time in the quarter ended December 2022.
The airline achieved highest ever domestic market share of 10.4% in July 2022 and maintained its position as the second-largest domestic airline in India since then, flying more than 11 million passengers in the calendar year 2022. Vistara also registered a 11% YoY growth in the member base for its frequent flyer programme – Club Vistara.
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Vistara grew its international network by over 180% in 2022, by adding seven additional routes including three new destinations (Jeddah, Abu Dhabi and Muscat). It also grew its domestic network by over 50%, by adding six new routes including two new destinations (Coimbatore and Jaipur). For the quarter ended December 2022, the airline grew its capacity by 37% and passengers by 47% compared to the same period last year.
Vistara, which is a 51:49 joint venture between Tata Sons Private Limited and Singapore Airlines, will reportedly merge with Air India in the near future. Air India is currently controlled by the Tatas.
